Entrepreneurship - how to Build a Scalable Start-up
Entreprenörskap - att bygga en skalbar start-up

INNA01, 7.5 credits, G1 (First Cycle)

Valid for: 2024/25
Faculty: Faculty of Engineering LTH
Decided by: PLED I
Date of Decision: 2024-04-16
Effective: 2024-05-08

General Information

Main field: Technology Depth of study relative to the degree requirements: First cycle, in-depth level of the course cannot be classified
Elective for: E5, F4, I5, M5, MD5, N5, Pi4
Language of instruction: The course will be given in English

Aim

The course aims at giving students practical experience in early stages of starting a technology-based start-up. The course is based on principles from lean-startup and business model canvas. Through practical experience, student-driven seminars, inspirational lectures and literature studies, understanding of business model components in the start-up process, as well as ability to analyze and validate an idea or invention is mainly achieved through customer-based development and experimentation with minimum viable products. This understanding is used to develop an efficient and scalable business model and review the business modle from sustainable and ethical perspectives.

Learning outcomes

Knowledge and understanding
For a passing grade the student must

• Describe and explain the lean startup process
• Describe and explain business plan and business model canvas
• Comparing and explaining the differences in the start-up process between the use of a traditional business plan and a lean start-up process
• Understand the difference between a scalable and non-scalable business model

Competences and skills
For a passing grade the student must

• Have the ability to develop hypotheses based on the business model canvas to test the viability of an idea or invention
• Have the ability to validate different parts of the idea using user, customer, and partner feedback.
• Have the ability to improve the business model using iterative development method
• Have the ability to interview potential users, customers and partners
• Have the ability to effectively present their idea or invention
• Have the ability to develop a minimum viable product for effective customer-based development

Judgement and approach
For a passing grade the student must

• Have the ability to critically review business models from a sustainability perspective
• Have the ability to critically review business models from an ethical perspective

Contents

Historically, many have assumed that start-ups were only smaller versions of large companies. The strategy for building start-ups was therefore to follow "best practices"of how to run large companies. What Steve Blank, Eric Ries and others who have developed the lean-startup methodology have realized is that start-ups are not like large companies and therefore we need other processes to build and develop them. Here we define a start-up as a temporary organization designed to search for an efficient and scalable business model. The focus is on the search for a business model and not on the implementation of a pre-defined business plan. The course will utilize the Lean Startup methodology, with literal emphasis on getting out of the reading room, talking to potential users, customers and partners as well as quickly iterating and changing the business model based on achieved insights. The syllabus for this course is based on lean-start-up methodology with some changes to adapt it to our specific circumstances. The course focuses on the process of clearly formulating the business in your vision of a start-up. You will learn how to use the Business Model Canvas as a tool to represent key components in your start-up, such as who are your customers, what value will it receive from your start-up, how will your revenue be generated, etc. (there are nine elements in the business model canvas). You will also learn customer development, the process we use to design, test and evaluate your start-up.

Examination details

Grading scale: TH - (U, 3, 4, 5) - (Fail, Three, Four, Five)
Assessment: The examination consists of two parts: 1) Project that will be performed in groups and reported in a written report and orally at seminars. Particpation at seminars is compulsory. Non-participation at seminars may require a written supplementary assignment. 2) Individual written report that discusses insights and conclusions from the project and from a sustainability and/or ethical perspective.

The examiner, in consultation with Disability Support Services, may deviate from the regular form of examination in order to provide a permanently disabled student with a form of examination equivalent to that of a student without a disability.

Modules
Code: 0119. Name: Entrepreneurship - how to Build a Scalable Start-up.
Credits: 7.5. Grading scale: TH - (U, 3, 4, 5). Assessment: The examination consists of two parts: 1) Project that will be performed in groups and reported in a written report and orally at seminars. Particpation at seminars is compulsory. Non-participation at seminars may require a written supplementary assignment. 2) Individual written report that discusses insights and conclusions from the project and from a sustainability and/or ethical perspective.

Admission

Assumed prior knowledge: MIO012/MIOA01/MIOA12/MIOA15 Managerial Economics. At least three years approved full time education at university level (or a Bachelor degree).
The number of participants is limited to: No
Kursen överlappar följande kurser: GEMA40

Reading list

• Articles.
• Alexander Osterwalder and Yves Pigneur: Business Model Generation. John Wiley and Sons, 2010.

Contact

Director of studies: Elin Olander, Elin.Olander@design.lth.se
Course homepage: https://www.innovation.lth.se/education/